Five industries with the brightest futures

Posted 16 Mar 2015,
by
Vivien Luu

When it comes to your career, it pays to be strategic and to think big picture.

While we always encourage you to follow your dreams, and do what you love, it’s also smart to look at things beyond of your control – like where the market is headed and which jobs our nation really needs.

But between work, family and general life, who has the time to do that?

We hear you. That’s why we’ve sifted through the national reports and big data, to bring you five industries that are currently experiencing skill shortages, and are poised to undergo huge growth in coming years.

Click on an icon below to find out more.

1. Healthcare and aged care

Australia’s healthcare industry has seen enormous growth (and arguably enormous strain) over the last several years as a result of the ageing population. And moving forward, it seems, this trend isn’t going away any time soon.

The Commonwealth Government’s recent 2015 Intergenerational Report projects that by 2055, the government will be spending twice as much on healthcare per person, and over three times more on aged care per person.

2015

2055

Healthcare costs

$2830 per person

$6460 per person

Aged care costs

$620 per person

$2000 per person

Couple this with our increased life expectancy and the fact that by 2055 there will be approximately 40,000 Australians over the age of 100 (compared to 5000 centenarians currently), and it’s no wonder the Deloitte Access Economics division has tipped industries related to healthcare and aged care to boom over the next 20 years.

‘Over the next two decades, no market is likely to see better growth in Australia than preventative health and wellness services. We’re living longer but we also want to keep living better, and that tension will generate billions of dollars in opportunities,’ the Deloitte’s Position for Prosperity report states.

According to Deloitte, the top health and aged care subsectors to watch over the next 20 years include:

Residential aged care

Preventative health and wellness

Digital delivery of health

What this means for aged care

The report highlights that ‘just as the baby boomers changed the nature of Australia’s schools in the 1950s and 60s … they will create a wave of change through the aged care sector.’

In the future we can expect an overall lift in the quality and standard of nursing homes, and with it will come the need for more competent and better-qualified staff.

It’s a gaping hole Australia is already feeling the effects of, with the government attempting to address the need for better aged care training through its Certificate IV VET FEE-HELP trial program.

Under the scheme, students who study a Certificate IV in Aged Care from an approved education provider (except for those studying in South Australia and Victoria) are eligible to apply for VET FEE-HELP, a study loan scheme that’s usually only available to students undertaking a diploma degree or higher.

What this means for healthcare

Unsurprisingly, continued growth in the healthcare sector will also mean continued demand for particular specialities and niche skills.

As Deloitte points out, ‘allied health professionals from a range of fields – such as nursing, optometry, dentistry, pharmacy, psychology, physiotherapy and occupational therapy – will find themselves in high demand.’

If you’re looking to become qualified for the health care industry, we’ve got a variety of courses to help you move into this rapidly growing sector.

2. Education and training

Australia is experiencing an undersupply of teachers qualified to teach mathematics and science, but an oversupply of teachers for every other discipline. It’s an alarming trend that’s hurting our classrooms and making it exceedingly difficult for graduate teachers to secure work.

‘But this report indicates that the demand for teachers is currently strong and is forecast to remain high in most states for the next 10 years.’

Deloitte has made similar forecasts, pointing to four major subsectors that will create substantial growth for the education and training industry:

Private schooling

International education

Reskilling an ageing workforce

Online education

International education tops the list, with Deloitte tipping this sub-industry as one of its ‘fantastic five’ sectors to work in over the next 20 years.

At present the international education sector is Australia’s fourth largest export earner, generating $15 billion a year in income and creating approximately 100,000 jobs.

With Asia’s emerging middle-class looking to undertake English-based qualifications, our proximity to Asia, robust education system and enviable lifestyle and climate, Australia is in a prime position to ride this wave of growth.

What this means for the education industry

These trends suggest that teaching professionals and educators will be in hot demand over the next 20 years, especially for those savvy enough to specialise in growth sectors like international education, the private school system, as well as reskilling the baby boomer generation.

Keen on upskilling for the education and training industry? Look through our education courses here.

3. Construction

Australia’s most recent property boom hasn’t just ramped up the price tag of our homes and brought in a wave of Chinese investors, it’s also enabled enormous growth and job opportunity in the construction industry.

According to the Housing Industry Association (HIA), the construction industry can expect solid growth this year, with a record number of 195,936 new dwellings projected to be built in 2014/2015.

What this means for construction

In short, it means more jobs and continued demand for specialist trades, particularly for those who have experience working on residential and commercial projects.

It also means greater government support and financial assistance, too. For instance, if you complete a Certificate III or IV qualification in any trade listed on the National Skills Needs List, you’re eligible to take out a Trade Support Loan to help you with living and learning expenses during your apprenticeship.

4. Travel and tourism

The tourism industry continues to experience severe shortages, with a recent Service Skills Australia report highlighting an extremely ‘critical shortage of qualified and skilled labour’ across the sector.

This shortage will only intensify in coming years as tourism is poised to become one of Australia’s five biggest growth industries. In 2013, ABS statistics showed that we welcomed 6.5 million international tourists to our shores. In 2033, Deloitte forecasts this number will double to 13.6 million international visitors.

The government has acknowledged tourism as vital to our economy, and through its Tourism 2020 initiative aims to nurture this rapidly growing industry.

‘Australia is uniquely positioned to capitalise on the demand from the emerging middle classes of Asia seeking food, wine and natural landscape tourism experiences,’ says Federal Minister for Trade and Investment, Andrew Robb.

‘It is vitally important that we not only develop the skills of our current workforce but attract new entrants to tourism and hospitality to meet this growing demand.’

What this means for tourism

It’ll mean more jobs, more business opportunities and a greater need for skilled workers in the industry. This trend will also increase demand for hospitality workers to service tourist hot spots and travel businesses.

A quick look over the National Skills Needs List and Service Skills Australia report shows us the following occupations are in short supply:

* Appears on the National Skills Needs List, which means you may be eligible for financial assistance if you study a certificate III or IV qualification in these trades.

Passionate about quality service and stellar travel experiences? Get qualified to work in this fast-paced industry with our tourism and hospitality courses.

5. Agriculture

The world’s population is on the rise. Forecasts predict that over the next 20 years we will grow by 60 million people each year. And, as our ranks swell, so too will our appetites.

As the Deloitte report notes, ‘global food demand will rise alongside the world’s population,’ and Australia is in a unique position to take advantage of this.

Thanks to the quality of our produce, sizable ocean resources and proximity to Asia, the report says agribusiness and ocean resources are industries that can expect substantial growth in coming years.

The exclusive economic zone (EEZ) around Australia is actually larger than our country’s landmass, meaning we hold the exclusive rights to the ocean surrounding our shores. This makes our ocean resources ‘an asset with huge potential … as there is rising scope to farm the ocean.’

So it’s not hard to see how Deloitte has come to the conclusion that ‘Australia can be a long-term winner in this sector, particularly in grains, beef, dairy, wine, oil seeds and emerging areas like aquaculture.’

Unfortunately, the agriculture workforce is ageing, and over the past decade the number of students completing agriculture qualifications has almost halved.

What this means for the agriculture industry

In short, it means more jobs, particularly for skilled agricultural professionals. Successfully increasing our agricultural output, however, will demand innovation in fields like environmental sciences and land management as the need to protect our agricultural resources becomes greater than ever.

It also means greater financial assistance from the government. In a bid to attract more students to the industry, the government has extended its VET FEE-HELP scheme to NSW and VIC students studying a Certificate IV in Agriculture – a loan scheme that’s usually only available for students studying a diploma or above.

So which jobs is the industry currently lacking? According to Department of Employment statistics, the following are in short supply: